Kering, the parent company of luxury brands like Gucci, has appointed Luca de Meo, the former CEO of Renault, as its new chief executive, starting in September. De Meo succeeds François-Henri Pinault, who has led Kering for two decades and remains as chairman. This change comes at a critical time as Kering has experienced several quarters of revenue declines, with a notable 12% decrease in 2024. De Meo, a veteran in the automobile industry, aims to reinforce Kering's role in the luxury market amidst its ongoing financial struggles.
Kering announced that Luca de Meo, the former CEO of Renault, will be its new chief executive, starting in September, to address recent revenue declines.
De Meo's appointment comes as Kering faces financial challenges, including significant stock price dips and a reported 12% revenue decline in 2024.
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